A. an invoice B. a receipt C. a payment voucher D. a bill Correct Answer: Option B B. a receipt
A. branch stock adjustment account B. goods sent to branch account C. branch debtors account D. branch profit and loss…
A. debit side of the trading account B. credit side of the trading account C. credit side of the profit…
A. normal partner B. limited partner C. general partner D. nominal partner Correct Answer: Option C C. general partner
A. cost plus the percentage B. cost price C. average cost D. selling price Correct Answer: Option A A. cost…
A. credit capital account B. debit of capital accounts C. credit of partners' current accounts D. debit of partners' currents…
A. revenue is recognized as being earned when ownership of goods passes to the customer B. revenue and profit should…
A. realization concept B. materiality convention C. marching concept D. consistency convention Correct Answer: Option B B. materiality convention
A. total sales B. total credit sales C. total creditors D. total debtors Correct Answer: Option D D. total debtors
A. debit in the sales ledger B. debit in the purchases ledger C. credit in the sales ledger D. credit…